Followers of Elon Musk designed a cryptocurrency named just after his dog — and it is up 2,400 %.
Flokinomics, a dogecoin knockoff that commenced investing on Sunday, was heading for $.000002254 early Wednesday, in accordance to CoinMarketCap knowledge. Although that may not seem like a good deal, it is a 2,400 p.c enhance in benefit about the previous 24 hrs.
“WE $FLOKIN DID IT,” declared a Twitter account for the cryptocurrency.
Flokinomics is named immediately after Elon Musk’s canine, Floki.
Floki is a Shiba Inu — the same type of puppy that serves as the mascot for dogecoin, the “meme” cryptocurrency that Elon Musk famously promoted earlier this 12 months.
Amid hype from Musk, dogecoin surged from $.06 at the beginning of April to a peak of $.74 in May perhaps. The coin then plummeted just after Musk joked about it on Saturday Evening Live and is now trading at about $.26.
The Tesla CEO has also promoted yet another Shiba Inu-themed coin, Toddler Doge. In July, Musk tweeted about the coin and its price tag far more than doubled.
Musk has not spoken publicly about Flokinomics — but that is not halting creators and enthusiasts of the cryptocurrency from angling for a shoutout from the mogul, which would inevitably deliver its cost soaring.
“Named soon after elons puppy so a single tweet from elon and we will moon so damn difficult!!!” wrote a single consumer on the Flokinomics Reddit discussion board.
“Awesome… Producing a ton off this!!” wrote a further.
Critics say that Musk’s practice of arbitrarily sending cryptocurrencies flying presents a hazard to buyers.